No longer just images and videos: now Instagram becomes an NFT sales platform and does so thanks to Art with the works of Refik Anadol and a select group of artists.
The news about the transformation of Instagram into an NFT sales platform for its creators had been in the air for some time: now the news is official.
Soon you’ll be able to make and sell #NFTs on @instagram, starting with @0xPolygon. You can also now connect to @solana and Phantom wallet, and see information about @opensea collection: https://t.co/aH8035Tk8n— Meta (@Meta) November 2, 2022
Comment your #NFT below 👇 pic.twitter.com/dvHau9n9Yu
WHAT HAPPENS NOW?
Starting this week, sharing NFTs purchased or created by American artists and collectors is being tested on Instagram.
The new function will allow you to connect your Metamask wallet, allowing you to share your NFT collection, associating the owner and creator.
Christine Pai – spokesperson for Meta who leads Instagram – revealed that artists and collectors who will create and buy NFTs on Instagram will not have to pay for the GAS FEE. This at least until 2024, after who knows.
At the moment the experimentation of creating and selling NFT is made available only for a selected group of artists, including Refik Anadol, Amber Vittoria, Dave Krugman, Olive Allen and more.
Already in August 2022 Meta had launched the new functionality for the sale of NFT on its platform in 100 countries around the world, but much still had to be developed.
In particular, the possibility of creating and then minting their works in NFT through Facebook and Instagram, then giving the possibility to creators to sell NFTs to their community.
WHICH BLOCKCHAIN NETWORKS ARE INVOLVED?
For now, Meta has announced the creation of a tool kit that will allow artists to mint, show and sell their NFTs directly on the Instagram platform.
At the moment the blockchain network used will be Polygon, but work is already being done on the use of Solana and the Phantom wallet as well.
It will also be possible to show the collections on OpenSea, the largest NFT marketplace in the world.
WHAT DOES IT MEAN FOR THE ARTISTS?
Many wonder if this evolution of Instagram, increasingly towards payment by the community of followers of digital content, will be the end of the social sharing par excellence.
We are increasingly moving towards an enhancement of creative content, now also in economic terms, which will therefore not require third-party platforms, but rather aims to maintain the attention and involvement of creators and their followers.
The latter will no longer be just numbers, but real supporters of their creators and artists, who will have some more motivation to create works of art specially designed for Instagram.
What is certain is that in the imaginary world of Meta, it will be possible for users to recreate virtual environments where they can exhibit NFT works purchased on Instagram.